Signature 50 ranking unveils Nigeria’s biggest corporations

For the second year running, Signature 50 has unveiled Nigerians biggest corporations. The ranking, based on market capitalisation, is exclusive to companies listed on the Nigerian Stock Exchange (NSE), Nigeria’s foremost multi-asset securities exchange offering equities, fixed income and Exchange Traded Funds. The 2020 ranking concluded in January shows Dangote Group is the most capitalised……

NSIA grows total assets to N649.84bn in 2019

The Nigeria Sovereign Investment Authority recorded a five percent growth in Total Assets from N617.7bn in 2018 to N649.84bn as of the end of 2019. It also recorded a Profit After Tax of N34.46bn for the 2019 financial period. The figures are contained in the 2019 audited financial statement of the agency which was released…

Imo government plans migration to contributory pensions scheme

Imo State governor, Hope Uzodimma, has set in motion the process of integrating Imo pensioners into the National Contributory Pensions Scheme as a way of enhancing good governance. Governor Uzodimma gave this indication on Friday in a meeting with the leadership of Nigerian Union of Pensioners (NUP) in Imo State at the Executive Council Chambers, Government House, Owerri. During the…

NSIA reports N36bn Profit, N649.84bn assets despite volatility 

The Nigeria Sovereign Investment Authority (“NSIA” or “The Authority”)- managers of Nigeria’s sovereign wealth fund, at the weekend announced a total comprehensive income of N36.15 billion in 2019. Although the 2019 profit was lower than the N44.34 billion reported the previous year, the performance has been seen as impressive considering the volatile global and generally challenging local…

Experts say institutional reforms a key missing link in FG’s economic sustainability plan

Experts are worried that lack of proper institutional and sectoral reforms could weaken the much expected impact of the federal government’s Economic Sustainability Plan,as the federal government seeks to bounce back the recession prone economy. They noted that the plan could go the way of the Economic Recovery and Growth Plan of the government if…

Diversified revenue, tax reform will spur growth post COVID-19 – experts

Finance experts in Nigeria have called for the need to diversify revenue generation sources at all levels of government while implementing a reformed tax system in order to improve economic growth in the country going forward. This was the discussion at a webinar themed “Nigeria’s Fiscal Sustainability: Imperatives, Impediments and Options” hosted by the Nigeria……

Nigeria Economic Outlook H2-2020: Up in the Air

In January 2020, we estimated that better trade terms between the US and China, improved clarity on the UK-EU economic ties, as well as an accommodative monetary policy stance by central banks across the world would bolster global growth in 2020. Against the run of play, the outbreak of the COVID-19 pandemic threw a curveball…